MCBC (MCFT) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of MCBC (NASDAQ:MCFT) from a buy rating to a hold rating in a research note released on Wednesday.
According to Zacks, “MCBC Holdings, Inc. is a designer, manufacturer and marketer of MasterCraft brand premium performance sport boats. The Company offers water skiing, wakeboarding and luxury performance powerboats. MCBC Holdings, Inc. is headquartered Vonore, United States. “
A number of other brokerages also recently issued reports on MCFT. ValuEngine downgraded MCBC from a buy rating to a hold rating in a report on Friday, December 1st. B. Riley reissued a buy rating and issued a $24.00 price objective on shares of MCBC in a report on Friday, November 10th. KeyCorp started coverage on MCBC in a report on Wednesday, August 30th. They issued an overweight rating for the company. Robert W. Baird reissued a buy rating on shares of MCBC in a report on Friday, November 10th. Finally, Aegis started coverage on MCBC in a report on Monday, October 2nd. They issued a buy rating and a $26.00 price objective for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. MCBC has a consensus rating of Buy and a consensus price target of $25.00.
Shares of MCBC (NASDAQ MCFT) traded down $0.03 on Wednesday, reaching $22.41. The company had a trading volume of 143,900 shares, compared to its average volume of 153,839. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.78 and a quick ratio of 0.51. The firm has a market capitalization of $419.14, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 0.95 and a beta of 1.25. MCBC has a 52-week low of $13.67 and a 52-week high of $23.99.
MCBC (NASDAQ:MCFT) last announced its quarterly earnings results on Friday, November 10th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.40. The firm had revenue of $65.00 million during the quarter, compared to the consensus estimate of $62.84 million. MCBC had a return on equity of 213.34% and a net margin of 8.43%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. equities research analysts predict that MCBC will post 1.57 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Chicago Equity Partners LLC lifted its holdings in shares of MCBC by 8.6% during the third quarter. Chicago Equity Partners LLC now owns 80,750 shares of the company’s stock worth $1,646,000 after purchasing an additional 6,410 shares during the period. Nationwide Fund Advisors lifted its holdings in shares of MCBC by 222.1% during the second quarter. Nationwide Fund Advisors now owns 13,969 shares of the company’s stock worth $273,000 after purchasing an additional 9,632 shares during the period. Vanguard Group Inc. lifted its holdings in shares of MCBC by 23.4% during the first quarter. Vanguard Group Inc. now owns 941,794 shares of the company’s stock worth $15,229,000 after purchasing an additional 178,652 shares during the period. Northern Trust Corp lifted its holdings in shares of MCBC by 105.9% during the second quarter. Northern Trust Corp now owns 204,206 shares of the company’s stock worth $3,993,000 after purchasing an additional 105,026 shares during the period. Finally, Rhumbline Advisers acquired a new stake in shares of MCBC during the second quarter worth $371,000. 93.95% of the stock is owned by institutional investors and hedge funds.
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MCBC Company Profile
MCBC Holdings, Inc (MCBC) is a holding company. The Company is a designer and manufacturer of inboard tournament ski boats and V-drive runabouts under the MasterCraft brand. The Company operates through two segments: MasterCraft and Hydra-Sports. The MasterCraft product brand consists of recreational performance boats primarily used for water skiing, wakeboarding and wake surfing, and general recreational boating.
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